Ferratum
# Ferratum

Multitude SE (formerly Ferratum) is a payday lender. It is based in Helsinki, Finland.

## History and founder

Multitude was founded in 2005 by Jorma Jokela, who has been its CEO since the company was founded.

## Listing on the Frankfurt Stock Exchange

Multitude was listed on the Frankfurt Stock Exchange Main List on February 6, 2015.

## Launch of SweepBank

SweepBank launched to the public in 2016 in France and Spain. It was created so that users can access their current accounts, savings and debit cards in one app.

## Commerce Commission court case

In June 2020, Multitude agreed to settle a claim over alleged breaches of the lender responsibility principles in New Zealand, whereby 46 named customers received $88,173 costs repaid. In 2021, the Australian Securities and Investments Commission said that Ferratum Australia had charged illegal fees and overcharged some customers who paid their loan early. On April 4, 2023, Ferratum Australia's shareholders voted to enter liquidation.

